Wells Fargo Downgrades Under Armour, Cuts Estimates On Athletic Sector
Wells Fargo downgraded Under Armour to “underperform” while lowering its estimates on Under Armour, Nike, Lululemon and Finish Line due to a slowdown in the athletic cycle.
Iconix Touts Its Active Brands Growth Potential
At CL King’s 15th Annual Best Ideas Conference 2017, Dave Jones, EVP and CFO of Iconix Brand Group, said many of the company’s active brands continue to offer the most growth potential for the company. Mossimo, Starter, Ocean Pacific, Umbro, Danskin and Pony were all called out.
Roots To Accelerate Expansion With IPO
Roots, the Canadian lifestyle apparel chain, filed for an initial public offering to accomplish ambitious growth goals in the years ahead, including adding about a dozen new doors in the U.S.
Nike’s Heidi O’Neill Discusses Digital-First Strategy
At Recode’s Code Commerce event in New York City, Heidi O’Neill, Nike’s president of direct-to-consumer business, discussed Nike’s aggressive moves into direct-to-consumer, its decision to sell directly to Amazon and overall digital transformation.
Aisle Talk, Week Of September 11
Top headlines from the active lifestyle industry you may have missed this week.
Fanatics Aiming For $10 Billion In Sales
Expanding internationally and capitalizing on its verticalization capabilities, Fanatics expects to reach over $2 billion in sales in 2017 and sees the long-term opportunity to reach more than $10 billion in sales, Michael Rubin, executive chairman of Fanatics, said Wednesday at Recode’s Code Commerce event.
Shares Of Finish Line Jump On Takeover Talk
Shares of Finish Line rose 63 cents, or 6.5 percent, to $10.37 on Wednesday after Susquehanna Financial Group LLLP analyst Sam Poser wrote in a note that Finish Line’s adoption of a poison pill will likely lead to an acquisition by Sports Direct.
Deckers Brands Receives Director Nominations From Marcato Capital Management
Deckers Brands confirmed that affiliates of Marcato Capital Management have nominated 10 director candidates to stand for election to the Board of Directors at Deckers’ 2017 Annual Meeting of Stockholders.
JD Sports First-Half Profits Climb
Boosted by a stellar performance from its Sports Fashion segment and a positive contribution from the recently-acquired Go Outdoors, JD Sports Fashion PLC reported profits before taxes climbed 32.7 percent in the first half ended July 29, to £102.7 million ($136.3 mm).
Cherokee Lowers Full-Year Guidance On Transition Hurdles
Cherokee Global Brands lowered its outlook for the year in part because the transition of its flagship Cherokee brand away from Target to its new wholesale licensees has been slower than initially anticipated.
Zumiez’s Momentum Builds
Shares of Zumiez Inc. shot up on Friday after the action-sports themed chain reported better-than-expected fiscal second-quarter results and provided strong guidance for the third quater.
American Outdoor Brands Slashes Guidance Amid Ongoing Firearms Softening
American Outdoor Brands slashed its earnings guidance for its fiscal year after reporting first-quarter results that missed expectations.
Aisle Talk, Week Of September 4
Top headlines from the active lifestyle industry you may have missed this week.
Strong Start For Hero 6 Lifts GoPro’s Q3 Results
Boosted by a strong early response to the launch of the Hero 6, GoPro Inc. hiked its guidance for revenue and gross margin for its third quarter ended September 30.
Under Armour Emphasizing Activation Over Acquisition
At the Goldman Sachs Annual Global Retailing Conference in New York City, Kevin Plank, Under Armour’s CEO, noted that there’s a “much farther difference” between the number two and three playing in the sporting goods industry than three versus four with its two competitors five to seven times larger than Under Armour. As such, Under Armour has to remain smart about its investments to protect its bottom line. Stated Plank, “We have to be the ones who play ‘Moneyball.’”
